All Forum Posts by: Adam Macias

 Why? We all responded to that question. 99% are clueless, that's why . When you hear, ", my partner has the contract direct " that means they do not know anything about the property. . They " teamed up  " with someone they do not know and are trying to sell it without knowing anything about it. BEST question everyone should ask these clowns, Who is the owner., that will back them into a corner then you know 100% they are not direct.

I could use some advice! I didn't end up with an investor-friendly title officer as I asked the wrong people for referrals (oops) and she doesn't know how to transact a wholesale deal. How can I help her?

She is still considering me the buyer when I have assigned the contract to someone else. She is still using the purchase price that I got the contract under and not taking the assignment fee into consideration on the closing statement.

What can I do? Does anyone have an example closing statement that I can show her? This is the first wholesale transaction I have done.

Thank you!

 I can tell in 20 seconds of the wholesaler, is real or not. I always ask, are you direct with the owner? When they say, " my partner " is. That means they found a deal online, they are now marketing it and calling themselves a wholesaler. I than say, ok so you are not direct, then then talk BS. I than ask, do you know who, Mr Jones is? I find the name of the owner 1st, they say umm no I then say its the owner you idiot, but hey thanks for the lead, :)

All the best, 

 Who said anything about going around a wholesaler ? 

 You must not have read what I posted if you asked that question. 

Thank you, @Adam Macias and @Amber Forkey for your generous insights!

Most are clueless; however, I do get about 20 a week sent to me in my market from them. Most no nothing about the property except for the photos they were sent, (photos are meaningless) They say but bob look at the ROI, again they are clueless, they do not even know how to determine the net cap and know nothing about the area,. So they are very useful you just need to know what you are doing.

   Also, all due respect I NEVER deal with realtors. I have done about 500 in my market and only used a realtor 10 years ago for a few.  I have found that most NOT ALL, realtors do not have a clue either. They show up at a house not knowing anything about it. How many deals do not close as they are off by 20 30 40k ( realtor fees). They all have the same line. " Multiple offers highest and best". I have to tell them what to offer. Just last year when I purchased my primary. Ask was 650 I said offer 450, Oh no , that's to low, you will piss off the seller, (EXACTLY what I want to do) I am not comfortable putting in that offer. I said Ok I will deal directly with the owner. Oh, ok I will do it. Sure, enough got it for 525k including the 15k golf membership, realtor made 15k for DOING ZERO work. All she did was get us in. Not a bad gig. 

So everyone needs to know their market, they should know exactly what to pay and where to buy. If they have to ask the realtor if this is a good deal they should not do the deal. Never leave that up to the wholesaler or the realtor,, know what you are doing. 

All the best 

My mother taught us to eat food even if from someone you don’t like.

Pick wholesalers who are in the geographical area you want.  Train them in the types of property you’re looking for.  Develop a fee based approach for them.   Tell them how you want deals Served up.  

Hey, all! My name is Larry and I'm a mental health counselor. I'm looking to get into wholesaling as a supplement to my income and depending on my success, go into it fully time. I'm currently in the knowledge gathering phase. I'm looking to make connections, meet new people, and have fun!